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 Synovus Announces Earnings for the Second Quarter 2017
   Tuesday, July 18, 2017 6:36:01 AM ET

Synovus Financial Corp. (SNV ) today reported financial results for the quarter ended June 30, 2017.

Second Quarter Highlights

-- Net income available to common shareholders was $73.4 million or $0.60 per diluted share as compared to $69.3 million or $0.56 per diluted share for the first quarter 2017 and $57.9 million or $0.46 per diluted share for the second quarter 2016.

-- Return on average assets was 1.00%, up 4 basis points from the previous quarter and up 17 basis points from the second quarter 2016.

-- Return on average common equity was 10.34%, up 37 basis points from the previous quarter and up 208 basis points from the second quarter 2016.



-- Total average loans grew $314.0 million or 5.2% annualized from the previous quarter and $1.42 billion or 6.2% as compared to the second quarter 2016.

-- Total average deposits grew $72.9 million or 1.2% annualized from the previous quarter and $1.38 billion or 5.9% as compared to the second quarter 2016.

-- Credit quality metrics remained favorable with a non-performing asset ratio of 73 basis points, down 4 basis points from the previous quarter and down 8 basis points from the second quarter 2016.

-- Total revenues(1) were $319.8 million, up $15.7 million or 5.2% from the previous quarter and 10.5% from the second quarter 2016.

-- Net interest margin was 3.51%, up 9 basis points from the previous quarter and up 24 basis points from the second quarter 2016.

-- Efficiency ratio(2) of 59.90% improved from 64.84% the previous quarter and 65.11% in the second quarter 2016.

"We are pleased with our second quarter performance, highlighted by a 30 percent year-over-year increase in earnings per share," said Kessel Stelling, Synovus chairman and CEO. "Profitability continued to improve as we delivered a 1 percent return on assets and an efficiency ratio below 60 percent for the quarter. We also celebrated being named ’Most Reputable Bank’ by American Banker magazine and the Reputation Institute. Our team is honored by this recognition from both customers and non-customers, and further energized about our transition to a unified Synovus brand in 2018."

Balance Sheet

-- Total loans ended the quarter at $24.43 billion, up $172.0 million or 2.8% annualized from the previous quarter and up $1.37 billion or 5.9% as compared to the second quarter 2016. -- Commercial and industrial loans grew by $10.1 million or 0.3% annualized from the previous quarter and $795.5 million or 7.3% as compared to the second quarter 2016.

-- Consumer loans grew by $207.2 million or 16.3% annualized from the previous quarter and $666.0 million or 14.4% as compared to the second quarter 2016.

-- Commercial real estate loans declined by $45.0 million or 2.4% annualized from the previous quarter and declined $93.4 million or 1.2% as compared to the second quarter 2016.

-- Total average loans were $24.35 billion, up $314.0 million or 5.2% annualized from the previous quarter and $1.42 billion or 6.2% as compared to the second quarter 2016.

-- Total average deposits were $24.99 billion, up $72.9 million or 1.2% annualized from the previous quarter and $1.38 billion or 5.9% as compared to the second quarter 2016. -- Average core transaction deposits(3) grew $261.3 million or 5.8% annualized from the previous quarter and $1.56 billion or 9.3% as compared to the second quarter 2016.

Core Performance

-- Total revenues(1) were $319.8 million, up $15.7 million or 5.2% from the previous quarter and 10.5% from the second quarter 2016.

-- Net interest income was $251.1 million, up $11.2 million or 4.7% from the previous quarter and 13.4% from the second quarter 2016.

-- Net interest margin was 3.51%, up 9 basis points from the previous quarter. Yield on earning assets was 3.99%, up 11 basis points from the previous quarter, and the effective cost of funds was 0.48%, up 2 basis points from the previous quarter.

-- Total non-interest income was $68.7 million, down $3.2 million or 4.4% compared to the previous quarter and up 1.2% from second quarter 2016.

-- Adjusted non-interest income was $70.1 million, up $4.1 million or 6.2% from the previous quarter and up 3.4% as compared to the second quarter 2016. -- Core banking fees(4) were $34.2 million, up $1.5 million or 4.6% from the previous quarter and 1.3% from the second quarter 2016.

-- Fiduciary and asset management fees, brokerage revenue, and insurance revenues were $20.8 million, up $114 thousand or 0.5% from the previous quarter and 5.0% from the second quarter 2016.

-- Mortgage banking income was $5.8 million, unchanged from the previous quarter and down 2.6% from the second quarter 2016.

-- Total non-interest expense was $191.7 million, down $5.6 million or 2.9% from the previous quarter and up 1.7% from the second quarter 2016. -- First quarter 2017 and second quarter 2016 included restructuring charges of $6.5 million and $5.8 million, respectively.

-- Adjusted non-interest expense was $191.4 million, up $837 thousand or 0.4% from the previous quarter and 5.0% from the second quarter 2016. -- Employment expense of $105.2 million decreased $2.0 million or 1.8% from the previous quarter and increased 8.4% from the second quarter 2016.

-- Occupancy and equipment expense of $29.9 million increased $602 thousand or 2.1% from the previous quarter and 11.8% from the second quarter 2016.

-- Other expenses of $56.6 million decreased $4.3 million or 7.0% from the previous quarter and decreased 12.6% from the second quarter 2016.

-- Efficiency ratio(2) was 59.90% as compared to 64.84% in the previous quarter and 65.11% in the second quarter 2016.

-- Adjusted efficiency ratio was 59.56% as compared to 62.25% in the previous quarter and 63.00% in the second quarter 2016.

Credit Quality

-- Non-performing loans were $159.3 million at June 30, 2017, up $951 thousand from March 31, 2017 and up $5.2 million from June 30, 2016. The non-performing loan ratio was 0.65% at June 30, 2017, unchanged compared to March 31, 2017 and down from 0.67% at June 30, 2016.

-- Total non-performing assets were $178.9 million at June 30, 2017, down $8.3 million from March 31, 2017 and down $8.4 million from June 30, 2016. The non-performing asset ratio was 0.73% at June 30, 2017, as compared to 0.77% at March 31, 2017 and 0.81% at June 30, 2016.

-- Net charge-offs were $15.7 million in the second quarter 2017, up $8.8 million from $6.9 million in the previous quarter and up $9.5 million from $6.1 million in the second quarter 2016. The annualized net charge-off ratio was 0.26% in the second quarter as compared to 0.12% in the previous quarter and 0.11% in the second quarter 2016.

-- Total delinquencies (consisting of loans 30 or more days past due and still accruing) remained low at 0.27% of total loans at June 30, 2017 as compared to 0.26% at March 31, 2017 and 0.24% at June 30, 2016.

Capital Ratios

-- Ratios reflect repurchase of $30.2 million in common stock during the second quarter 2017.

-- Common Equity Tier 1 ratio was 10.02% at June 30, 2017 compared to 9.86% at March 31, 2017.

-- Tier 1 Capital ratio was 10.36% at June 30, 2017 compared to 10.18% at March 31, 2017.

-- Total Risk Based Capital ratio was 12.24% at June 30, 2017 compared to 12.09% at March 31, 2017.

-- Tier 1 Leverage ratio was 9.29% at June 30, 2017 compared to 9.13% at March 31, 2017.

-- Tangible Common Equity ratio was 9.15% at June 30, 2017 compared to 9.04% at March 31, 2017.

Second Quarter Earnings Conference Call

Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 18, 2017. The earnings call will be accompanied by a slide presentation. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. For a link to the webcast, go to investor.synovus.com/event. The replay will be archived for 12 months and will be available 30-45 minutes after the call.

Synovus Financial Corp.

Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $31 billion in assets. Synovus provides commercial and retail banking, investment, and mortgage services through 248 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank, a wholly owned subsidiary of Synovus, was recognized as the "Most Reputable Bank" by American Banker and the Reputation Institute in 2017, and was named "Best Regional Bank, Southeast" by MONEY Magazine for 2016-17. Synovus is on the web at synovus.com, on Twitter @synovus, and on LinkedIn at http://linkedin.com/company/synovus .

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus’ use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "should," "predicts," "could," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Synovus’ future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding deposits, loan growth and the net interest margin; expectations on our growth strategy, expense initiatives, strategic transactions, our brand initiatives, capital management and future profitability; expectations on credit trends and key credit metrics; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict.

These forward-looking statements are based upon information presently known to Synovus’ management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2016 under the captions "Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors" and in Synovus’ quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

Use of Non-GAAP Financial Measures

The measures average core transaction deposits; adjusted non-interest income; adjusted non-interest expense; adjusted efficiency ratio; tangible common equity ratio; and common equity Tier 1 (CET1) ratio (fully phased-in) are not measures recognized under U.S. generally accepted accounting principles (GAAP) and therefore are considered non-GAAP financial measures. The most comparable GAAP measures are total average deposits; total non-interest income; total non-interest expense; efficiency ratio; return on average common equity and total shareholders’ equity to total assets ratio, respectively.

Synovus believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management, investors, and bank regulators in evaluating Synovus’ operating results, financial strength and capitalization, and the performance of its business and the strength of its capital position, but they have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of results as reported under GAAP. Average core transaction deposits are a measure used by management to evaluate organic growth of deposits and the quality of deposits as a funding source. Adjusted non-interest income is a measure utilized by management to measure non-interest income exclusive of net investment securities gains and decrease in fair value of private equity investments, net. Adjusted non-interest expense and the adjusted efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio and common equity Tier 1 (CET1) ratio (fully phased-in) are used by management and bank regulators to assess the strength of our capital position. These non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies and should not be considered as substitutes for total average deposits; total non-interest income; total non-interest expense; efficiency ratio; return on average common equity and total shareholders’ equity to total assets ratio determined in accordance with GAAP and may not be comparable to other similarly titled measures at other companies.

The computations of average core transaction deposits; adjusted non-interest income; adjusted non-interest expense; adjusted efficiency ratio; tangible common equity ratio; and common equity Tier 1 (CET1) ratio (fully phased-in) and the reconciliation of these measures total average deposits; total non-interest income; total non-interest expense; efficiency ratio; return on average common equity; and total shareholders’ equity to total assets ratio are set forth in the tables below.

(1) Consist of net interest income and non-interest income excluding net investment securities gains. (2) Non-interest expense as a percentage of the sum of net interest income (fully taxable equivalent basis) and non-interest income excluding net investment securities gains/losses. (3) Consist of non-interest bearing, NOW/Savings, and money market deposits excluding SCMs and brokered deposits. (4) Include service charges on deposit accounts, bankcard fees, letter of credit fees, ATM fee income, line of credit non-usage fees, gains from sales of government guaranteed loans, and miscellaneous other service charges.

 
 
 
 
Reconciliation of Non-GAAP Financial Measures
(dollars in thousands)                                                                            2Q17                                                     1Q17                                           2Q16
                                                                                                                                   --------------------------------------------------                                             --------------------------------------------------                                             ------------------------------
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
Average Core Transaction Deposits
Total average deposits                                                                                                                                $ 24,991,708                                                                  24,918,855                                                                23,608,027
Subtract: Average brokered deposits                                                                                                                     (1,379,559 )                                                                                   (1,380,786 )                                                              (1,337,001 )
Subtract: Average time deposits excluding average SCM time deposits                                                                                     (3,151,333 )                                                                                   (3,151,888 )                                                              (3,141,621 )
Subtract: Average state, county, and municipal (SCM) deposits                                                                        (2,051,646 )                                                                (2,238,324 )                                                              (2,280,038 )
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
Average core transaction deposits                                                                                                                     $ 18,409,170                                               18,147,857                                             16,849,367  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                  
Adjusted Non-interest Income
Total non-interest income                                                                                                                             $     68,701                                                                                         71,839                                                                    67,886
Subtract/add: Investment securities gains (losses), net                                                                                                          1                                                                                         (7,668 )                                                                       -
Subtract/add: (Decrease) increase in fair value of private equity                                                                         1,352                                                    1,814                                                   (113 )
investments, net
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
   Adjusted non-interest income                                                                                                                       $     70,054                                                   65,985                                                 67,773  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                  
Adjusted Non-interest Expense
Total non-interest expense                                                                                                                            $    191,747                                                                                        197,388                                                                   188,611
Subtract: Restructuring charges                                                                                                                                (13 )                                                                                       (6,511 )                                                                  (5,841 )
Subtract: Fair value adjustment to Visa derivative                                                                                                               -                                                                                              -                                                                      (360 )
Subtract: Merger-related expense                                                                                                                                 -                                                                                            (86 )                                                                       -
Subtract: Amortization of intangibles                                                                                                      (292 )                                                                      (183 )                                                                       -  
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
                                                                                                                                                                                                                                                                                                                                  
      Adjusted non-interest expense                                                                                                                   $    191,442                                                  190,608                                                182,410  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
 
Adjusted Efficiency Ratio
Adjusted non-interest expense                                                                                                                         $    191,442                                                                                        190,608                                                                   182,410
Net interest income                                                                                                                                        251,097                                                                                        239,927                                                                   221,449
Add: Tax equivalent adjustment                                                                                                                                 298                                                                                            309                                                                       329
Add: Total non-interest income                                                                                                                              68,701                                                                                         71,839                                                                    67,886
Subtract/add: Decrease (increase) in fair value of private equity                                                                                            1,352                                                                                          1,814                                                                      (113 )
investments, net
Subtract/add: Investment securities gains (losses), net                                                                                       1                                                   (7,668 )                                                                       -  
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
Total revenues                                                                                                                                        $    321,449                                                                     306,221                                                                   289,551
   Adjusted efficiency ratio                                                                                                              59.56 %                                                                     62.25                                                  63.00  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
 
Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)                                                                                                                                     2Q17                                                                                           1Q17                                                                                 2Q16
                                                                                                                                   --------------------------------------------------                                             --------------------------------------------------                                             ------------------------------
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
Tangible common equity ratio
Total assets                                                                                                                                          $ 30,687,966                                                                                     30,679,589                                                                29,459,691
Subtract: Goodwill                                                                                                                                         (57,092 )                                                                                      (57,010 )                                                                 (24,431 )
Subtract: Other intangible assets, net                                                                                                  (11,843 )                                                                   (12,137 )                                                                    (228 )
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
   Tangible assets                                                                                                                                    $ 30,619,031                                               30,610,442                                             29,435,032  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                  
Total shareholders’ equity                                                                                                 $  2,997,947                                                                                      2,962,127                                                                 2,951,659
Subtract: Goodwill                                                                                                                                         (57,092 )                                                                                      (57,010 )                                                                 (24,431 )
Subtract: Other intangible assets, net                                                                                                                     (11,843 )                                                                                      (12,137 )                                                                    (288 )
Subtract: Series C Preferred Stock, no par value                                                                                       (125,980 )                                                                  (125,980 )                                                                (125,980 )
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
   Tangible common equity                                                                                                                             $  2,803,032                                                2,767,000                                              2,800,960  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
Tangible common equity ratio                                                                                                                                  9.15 %                                                                                         9.04                                                                      9.52
                                                                                                                                                                                                                                                                                                                                  
Common Equity Tier 1 (CET1) ratio (fully phased-in)
Common Equity Tier 1 (CET1)                                                                                                                           $  2,733,823                                                                                      2,672,649                                                                 2,615,939
Adjustment related to capital components                                                                                                (31,913 )                                                                   (39,834 )                                                                (114,751 )
                                                                                                                                   -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           ---------- --------------------
CET1 (fully phased-in)                                                                                                                                $  2,701,910                                                2,632,815                                              2,501,188  
                                                                                                                                   ==================== ========== ====================                                           ==================== ========== ====================                                           ========== ====================
Total risk-weighted assets (fully phased-in)                                                                                                          $ 27,528,806                                                                                     27,332,093                                                                26,363,698
Common Equity Tier 1 (CET1) ratio (fully phased-in)                                                                                                           9.81 %                                                                                         9.63                                                                      9.49
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
Synovus
INCOME STATEMENT DATA                                                                                                                                                          
(Unaudited)                                                                                                                                                                                                                              Six Months Ended
(Dollars in thousands, except per share data)                                                                                                                                                                                                June 30,
                                                                                                                                        -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                    
                                                                                                                                                               2017                                         2016                                     Change
                                                                                                                                        ---------------------------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- ---------------------------------------------
                                                                                                                                                                                                                                                                                                                                    
Interest income                                                                                                                                            $ 557,911                                                                   501,716                                                                                11.2 %
Interest expense                                                                                                                                              66,887                                                                    62,073                                                                                 7.8
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
Net interest income                                                                                                                                          491,024                                                                   439,643                                                                                11.7
Provision for loan losses                                                                                                                                     18,934                                                                    16,070                                                                                17.8
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
Net interest income after provision for loan losses                                                                                                          472,090                                                                   423,573                                                                                11.5
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
Non-interest income:
    Service charges on deposit accounts                                                                                                                       39,593                                                                    39,950                                                                                (0.9 )
    Fiduciary and asset management fees                                                                                                                       24,676                                                                    22,854                                                                                 8.0
    Brokerage revenue                                                                                                                                         14,436                                                                    13,821                                                                                 4.4
    Mortgage banking income                                                                                                                                   11,548                                                                    11,425                                                                                 1.1
    Bankcard fees                                                                                                                                             16,438                                                                    16,718                                                                                (1.7 )
    Investment securities gains, net                                                                                                                           7,667                                                                        67                                                                                  nm
    (Decrease) increase in fair value of private equity investments, net                                                                                      (3,166 )                                                                    (278 )                                                                                nm
    Other fee income                                                                                                                                          11,033                                                                    10,084                                                                                 9.4
    Other non-interest income                                                                                                                                 18,314                                                                    16,392                                                                                11.7
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
Total non-interest income                                                                                                                                    140,539                                                                   131,033                                                                                 7.3
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                    
Non-interest expense:
   Salaries and other personnel expense                                                                                                                      212,404                                                                   198,419                                                                                 7.0
   Net occupancy and equipment expense                                                                                                                        59,264                                                                    53,360                                                                                11.1
   Third-party processing expense                                                                                                                             26,223                                                                    22,814                                                                                14.9
   FDIC insurance and other regulatory fees                                                                                                                   13,645                                                                    13,344                                                                                 2.3
   Professional fees                                                                                                                                          12,907                                                                    13,307                                                                                (3.0 )
   Advertising expense                                                                                                                                        11,258                                                                     9,761                                                                                15.3
   Foreclosed real estate expense, net                                                                                                                         3,582                                                                     7,272                                                                               (50.7 )
   Earnout liability adjustments                                                                                                                               1,707                                                                         -                                                                                  nm
   Merger-related expense                                                                                                                                         86                                                                         -                                                                                  nm
   Amortization of intangibles                                                                                                                                   475                                                                       121                                                                               292.6
   Fair value adjustment to Visa derivative                                                                                                                        -                                                                       720                                                                                  nm
   Loss on early extinguishment of debt                                                                                                                            -                                                                     4,735                                                                                  nm
   Litigation settlement expense                                                                                                                                   -                                                                     2,700                                                                                  nm
   Restructuring charges, net                                                                                                                                  6,524                                                                     6,981                                                                                (6.5 )
   Other operating expenses                                                                                                                41,058                                                 43,310                                                             (5.2 )
                                                                                                                                        -------------------- ------- --------------------                                           ---------- --------------------                                           -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
Total non-interest expense                                                                                                                                   389,133                                                                   376,844                                                                                 3.3
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                    
Income before income taxes                                                                                                                                   223,496                                                                   177,762                                                                                25.7
Income tax expense                                                                                                                                            75,635                                                                    64,773                                                                                16.8
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                           
                                                                                                                                        --------------------------------------------------                                          --------------------------------                                          -------------------- -----------------------
Net income                                                                                                                                                   147,861                                                                   112,989                                                                                30.9
                                                                                                                                                                                                                                                                                                                                    
Dividends on preferred stock                                                                                                                5,119                                                  5,119                                                                -  
                                                                                                                                        -------------------- ------- --------------------                                           ---------- --------------------                                           -------------------- -----------------------
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                    
Net income available to common shareholders                                                                                                                $ 142,742                                                107,870                                                             32.3 %
                                                                                                                                        ==================== ======= ====================                                           ========== ====================                                           ==================== =======================
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                    
Net income per common share, basic                                                                                                                         $    1.17                                                                      0.85                                                                                37.4 %
                                                                                                                                                                                                                                                                                                                                    
Net income per common share, diluted                                                                                                                            1.16                                                                      0.85                                                                                36.5
                                                                                                                                                                                                                                                                                                                                    
Cash dividends declared per common share                                                                                                                        0.30                                                                      0.24                                                                                25.0
                                                                                                                                                                                                                                                                                                                                    
Return on average assets                                                                                                                                        0.98                      %                                               0.78                                                                                  20  bps
Return on average common equity                                                                                                                                10.16                                                                      7.66                                                                                 250
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                    
Weighted average common shares outstanding, basic                                                                                                            122,251                                                                   126,164                                                                                (3.1 )%
Weighted average common shares outstanding, diluted                                                                                                          123,042                                                                   126,778                                                                                (2.9 )
                                                                                                                                                                                                                                      
nm - not meaningful
bps - basis points
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
Synovus
INCOME STATEMENT DATA
(Unaudited)
(In thousands, except per share data)                                                                                                    2017                                                                                                                                        2016                                                                                       2nd Quarter
                                                                                                                                        --------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- ------------------------------
                                                                                                                                                              Second                                      First                           Fourth                            Third                 Second               ’17 vs. ’16
                                                                                                                                                              Quarter                                    Quarter                          Quarter                          Quarter                Quarter                Change
                                                                                                                                        ---------------------------------------------------------------------- -------------------- ------------------------------------------------- -------------------- ------------------------------------------------- -------------------- ------------------------------------------------- -------------------- ------- -------------------- -------------------- ------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Interest income                                                                                                                                            $ 285,510                                                                272,401                                                                264,534                                                                256,554                                                                252,393                                            13.1 %
Interest expense                                                                                                                           34,413                                              32,474                                              31,004                                              30,547                                              30,944                                            11.2  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net interest income                                                                                                                                          251,097                                                                239,927                                                                233,530                                                                226,007                                                                221,449                                            13.4
Provision for loan losses                                                                                                                  10,260                                               8,674                                               6,259                                               5,671                                               6,693                                            53.3  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net interest income after provision for loan losses                                                                                       240,837                                             231,253                                             227,271                          220,336                          214,756                                            12.1  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- -------------------- --------------------                      ------- -------------------- --------------------                      -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Non-interest income:
    Service charges on deposit accounts                                                                                                                       19,820                                                                 19,774                                                                 20,653                                                                 20,822                                                                 20,240                                            (2.1 )
    Fiduciary and asset management fees                                                                                                                       12,524                                                                 12,151                                                                 11,903                                                                 11,837                                                                 11,580                                             8.2
    Brokerage revenue                                                                                                                                          7,210                                                                  7,226                                                                  7,009                                                                  6,199                                                                  7,338                                            (1.7 )
    Mortgage banking income                                                                                                                                    5,784                                                                  5,766                                                                  5,504                                                                  7,329                                                                  5,941                                            (2.6 )
    Bankcard fees                                                                                                                                              8,253                                                                  8,185                                                                  8,330                                                                  8,269                                                                  8,346                                            (1.1 )
    Investment securities gains (losses), net                                                                                                                     (1 )                                                                7,668                                                                  5,885                                                                     59                                                                      -                                              nm
    (Decrease) increase in fair value of private equity investments, net                                                                                      (1,352 )                                                               (1,814 )                                                                 (499 )                                                                 (249 )                                                                  113                                              nm
    Other fee income                                                                                                                                           6,164                                                                  4,868                                                                  4,965                                                                  5,171                                                                  5,280                                            16.7
    Other non-interest income                                                                                                              10,299                                               8,015                                              10,256                                               8,718                                               9,048                                            13.8  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Total non-interest income                                                                                                                  68,701                                              71,839                                              74,006                           68,155                           67,886                                             1.2  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- -------------------- --------------------                      ------- -------------------- --------------------                      -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Non-interest expense:
   Salaries and other personnel expense                                                                                                                      105,213                                                                107,191                                                                101,662                                                                101,945                                                                 97,061                                             8.4
   Net occupancy and equipment expense                                                                                                                        29,933                                                                 29,331                                                                 27,867                                                                 28,120                                                                 26,783                                            11.8
   Third-party processing expense                                                                                                                             13,620                                                                 12,603                                                                 12,287                                                                 11,219                                                                 11,698                                            16.4
   FDIC insurance and other regulatory fees                                                                                                                    6,875                                                                  6,770                                                                  6,614                                                                  6,756                                                                  6,625                                             3.8
   Professional fees                                                                                                                                           7,551                                                                  5,355                                                                  6,904                                                                  6,486                                                                  6,938                                             8.8
   Advertising expense                                                                                                                                         5,346                                                                  5,912                                                                  4,905                                                                  5,597                                                                  7,351                                           (27.3 )
   Foreclosed real estate expense, net                                                                                                                         1,448                                                                  2,134                                                                  2,840                                                                  2,725                                                                  4,588                                           (68.4 )
   Earnout liability adjustments                                                                                                                               1,707                                                                      -                                                                      -                                                                      -                                                                      -                                              nm
   Merger-related expense                                                                                                                                          -                                                                     86                                                                  1,086                                                                    550                                                                      -                                              nm
   Amortization of intangibles                                                                                                                                   292                                                                    183                                                                    400                                                                      -                                                                      -                                              nm
   Fair value adjustment to Visa derivative                                                                                                                        -                                                                      -                                                                  4,716                                                                    360                                                                    360                                              nm
   Litigation settlement (recovery) expense                                                                                                                        -                                                                      -                                                                      -                                                                   (189 )                                                                    -                                              nm
   Restructuring charges, net                                                                                                                                     13                                                                  6,511                                                                     42                                                                  1,243                                                                  5,841                                              nm
   Other operating expenses                                                                                                                19,749                                              21,312                                              23,886                                              21,059                                              21,366                                            (7.6 )
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Total non-interest expense                                                                                                                191,747                                             197,388                                             193,209                          185,871                          188,611                                             1.7  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- -------------------- --------------------                      ------- -------------------- --------------------                      -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Income before income taxes                                                                                                                                   117,791                                                                105,704                                                                108,068                                                                102,620                                                                 94,031                                            25.3
Income tax expense                                                                                                                         41,788                                              33,847                                              39,519                                              37,375                                              33,574                                            24.5  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net income                                                                                                                                                    76,003                                                                 71,857                                                                 68,549                                                                 65,245                                                                 60,457                                            25.7
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Dividends on preferred stock                                                                                                                2,559                                               2,559                                               2,559                                               2,559                                               2,559                                               -  
                                                                                                                                        -------------------- ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           ------- --------------------                                           -------                                           ----- -----------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net income available to common shareholders                                                                                                                $  73,444                                              69,298                                              65,990                                              62,686                                              57,898                                            26.9 %
                                                                                                                                        ==================== ======= ====================                                           ======= ====================                                           ======= ====================                                           ======= ====================                                           =======                                           ===== =======================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net income per common share, basic                                                                                                                         $    0.60                                                                   0.57                                                                   0.54                                                                   0.51                                                                   0.46                                            29.9 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net income per common share, diluted                                                                                                                            0.60                                                                   0.56                                                                   0.54                                                                   0.51                                                                   0.46                                            29.6
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Cash dividends declared per common share                                                                                                                        0.15                                                                   0.15                                                                   0.12                                                                   0.12                                                                   0.12                                            25.0
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Return on average assets *                                                                                                                                      1.00 %                                              0.96                                                                   0.90                                                                   0.88                                                                   0.83                                              17  bps
Return on average common equity *                                                                                                                              10.34                                                                   9.97                                                                   9.42                                                                   8.89                                                                   8.26                                             208
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Weighted average common shares outstanding, basic                                                                                                            122,203                                                                122,300                                                                122,341                                                                122,924                                                                125,100                                            (2.3 )%
Weighted average common shares outstanding, diluted                                                                                                          123,027                                                                123,059                                                                123,187                                                                123,604                                                                125,699                                            (2.1 )
                                                                                                                                                                                                                                      
nm - not meaningful
bps - basis points
* - ratios are annualized
                                                                              
                                                                                                                                         
                                                                                                                                         
                                                                                                                                         
                                                                                                                                         
Synovus                                                                                                                                              
                                                                                                                                        --------------------                                           --------------------                                           --------------------
BALANCE SHEET DATA                                                                                                                          June 30, 2017                                                December 31, 2016                                                June 30, 2016
                                                                                                                                        --------------------                                           --------------------                                           --------------------
(Unaudited)
                                                                                                                                                                                                                                                                       
(In thousands, except share data)
                                                                                                                                                                                                                                                                       
ASSETS
Cash and cash equivalents                                                                                                                           $377,213                                                        395,175                                                        377,334
Interest bearing funds with Federal Reserve Bank                                                                                                     468,148                                                        527,090                                                        904,406
Interest earning deposits with banks                                                                                                                   6,012                                                         18,720                                                         24,541
Federal funds sold and securities purchased under resale agreements                                                                                   46,847                                                         58,060                                                         77,685
Trading account assets, at fair value                                                                                                                  3,045                                                          9,314                                                          1,001
Mortgage loans held for sale, at fair value                                                                                                           61,893                                                         51,545                                                         87,824
Investment securities available for sale, at fair value                                                                                            3,827,058                                                      3,718,195                                                      3,580,359
                                                                                                                                                                                                                                                                       
Loans, net of deferred fees and costs                                                                                                             24,430,512                                                     23,856,391                                                     23,060,908
Allowance for loan losses                                                                                                                          (248,095)                                                      (251,758)                                                      (255,076)
                                                                                                                                        --------------------                                           --------------------                                           --------------------
      Loans, net                                                                                                                                  24,182,417                                                     23,604,633                                                     22,805,832
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
Premises and equipment, net                                                                                                                          416,364                                                        417,485                                                        424,967
Goodwill                                                                                                                                              57,092                                                         59,678                                                         24,431
Other intangible assets                                                                                                                               11,843                                                         13,223                                                            228
Other real estate                                                                                                                                     19,476                                                         22,308                                                         33,289
Deferred tax asset, net                                                                                                                              320,403                                                        395,356                                                        425,160
Other assets                                                                                                                                         890,155                                                        813,220                                                        692,634
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
      Total assets                                                                                                                               $30,687,966                                                     30,104,002                                                     29,459,691
                                                                                                                                        ====================                                           ====================                                           ====================
                                                                                                                                                                                                                                                                       
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
   Deposits:
      Non-interest bearing deposits                                                                                                               $7,363,476                                                      7,085,804                                                      6,934,443
      Interest bearing deposits, excluding brokered deposits                                                                                      16,387,032                                                     16,183,273                                                     15,495,318
      Brokered deposits                                                                                                                            1,468,308                                                      1,378,983                                                      1,496,161
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
      Total deposits                                                                                                                              25,218,816                                                     24,648,060                                                     23,925,922
                                                                                                                                                                                                                                                                       
Federal funds purchased and securities sold under repurchase                                                                                         150,379                                                        159,699                                                        247,179
agreements
Long-term debt                                                                                                                                     2,107,245                                                      2,160,881                                                      2,135,892
Other liabilities                                                                                                                                    213,579                                                        207,438                                                        199,039
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
      Total liabilities                                                                                                                           27,690,019                                                     27,176,078                                                     26,508,032
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                       
Shareholders’ equity:
                                                                                                                                                     125,980                                                        125,980                                                        125,980
      Series C Preferred Stock - no par value, 5,200,000 shares
      outstanding at June 30, 2017, December 31, 2016, and June 30, 2016
                                                                                                                                                                                                                                                                       
                                                                                                                                                     142,499                                                        142,026                                                        141,008
      Common stock - $1.00 par value. 121,661,092 shares outstanding at
      June 30, 2017, 122,266,106 shares outstanding at December 31,
      2016, and 124,047,659 shares outstanding at June 30, 2016
      Additional paid-in capital                                                                                                                   3,029,754                                                      3,028,405                                                      2,993,985
                                                                                                                                                   (709,944)                                                      (664,595)                                                      (573,058)
      Treasury stock, at cost - 20,837,814 shares at June 30, 2017,
      19,759,614 shares at December 31, 2016, and 16,959,977 shares at
      June 30, 2016
                                                                                                                                                                                                                                                                       
      Accumulated other comprehensive income (loss)                                                                                                 (47,865)                                                       (55,659)                                                         11,005
      Retained earnings                                                                                                                              457,523                                                        351,767                                                        252,739
                                                                                                                                        --------------------                                           --------------------                                           --------------------
      Total shareholders’ equity                                                                                                                   2,997,947                                                      2,927,924                                                      2,951,659
                                                                                                                                        --------------------                                           --------------------                                           --------------------
                                                                                                                                                                                                                                                                       
      Total liabilities and shareholders’ equity                                                                                                 $30,687,966                                                     30,104,002                                                     29,459,691
                                                                                                                                        ====================                                           ====================                                           ====================
 
 
 
 
 
Synovus
AVERAGE BALANCES AND YIELDS/RATES (1)
(Unaudited)
(Dollars in thousands)
                                                                                                 2017                                                                                                                                                2016
                                                                                                                         -------------------------------------------------------------------------------------------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                       Second                                First                              Fourth                               Third                              Second
                                                                                                                                       Quarter                              Quarter                             Quarter                             Quarter                             Quarter
                                                                                                                         ------------------------------------------------------ -------------------- ---------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- --------------------------------
Interest Earning Assets
----------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Taxable investment securities (2)                                                                                                           $  3,844,688                                              3,841,556                                                                 3,643,510                                                                 3,544,933                                                                 3,529,030
                             Yield                                                                                                                  2.11 %                                                 2.06                                                                      1.92                                                                      1.83                                                                      1.89
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Tax-exempt investment securities (2) (4)                                                                                                    $        340                                                  2,730                                                                     2,824                                                                     2,943                                                                     3,491
                             Yield (taxable equivalent)                                                                                             6.87 %                                                 5.81                                                                      5.82                                                                      5.96                                                                      6.08
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Trading account assets                                                                                                                      $      3,667                                                  6,443                                                                     6,799                                                                     5,493                                                                     3,803
                             Yield                                                                                                                  2.28 %                                                 1.72                                                                      2.63                                                                      0.93                                                                      1.27
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Commercial loans (3) (4)                                                                                                                    $ 19,137,733                                             19,043,384                                                                18,812,659                                                                18,419,484                                                                18,433,638
                             Yield                                                                                                                  4.27 %                                                 4.16                                                                      4.05                                                                      4.03                                                                      4.04
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Consumer loans (3)                                                                                                                          $  5,215,258                                              4,992,683                                                                 4,911,149                                                                 4,720,082                                                                 4,497,147
                             Yield                                                                                                                  4.49 %                                                 4.40                                                                      4.27                                                                      4.30                                                                      4.32
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Allowance for loan losses                                                                                                                   $   (251,219 )       (253,927 )                          (253,713 )                          (255,675 )                          (251,101 )
                                                                                                                         -------------------- ---------- - -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Loans, net (3)                                                                                                                              $ 24,101,772                                             23,782,140                                                                23,470,095                                                                22,883,891                                                                22,679,684
                             Yield                                                                                                                  4.36 %                                                 4.25                                                                      4.14                                                                      4.14                                                                      4.15
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Mortgage loans held for sale                                                                                                                $     52,224                                                 46,554                                                                    77,652                                                                    87,524                                                                    72,477
                             Yield                                                                                                                  3.87 %                                                 4.01                                                                      3.51                                                                      3.32                                                                      3.59
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Federal funds sold, due from Federal Reserve Bank,
and other short-term investments                                                                                                            $    561,503                                                654,322                                                                   982,355                                                                   998,565                                                                   907,614
                             Yield                                                                                                                  1.00 %                                                 0.77                                                                      0.49                                                                      0.48                                                                      0.47
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Federal Home Loan Bank and Federal Reserve Bank stock (5)                                                                                   $    177,323                                                170,844                                                                   121,079                                                                    70,570                                                                    77,571
                             Yield                                                                                                                  2.99 %                                                 3.42                                                                      3.75                                                                      4.99                                                                      5.15
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total interest earning assets                                                                                                               $ 28,741,517                                             28,504,589                                                                28,304,314                                                                27,593,919                                                                27,273,670
          Yield                                      3.99 %           3.88             3.73             3.71             3.73  
---------------------------- ---------------------------- -------------------- -------------------- -------------------- -------------------- ---------- - -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Interest Bearing Liabilities
----------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Interest bearing demand deposits                                                                                                            $  4,837,053                                              4,784,329                                                                 4,488,135                                                                 4,274,117                                                                 4,233,310
                             Rate                                                                                                                   0.23 %                                                 0.19                                                                      0.16                                                                      0.16                                                                      0.18
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Money market accounts                                                                                                                       $  7,427,562                                              7,424,627                                                                 7,359,067                                                                 7,227,030                                                                 7,082,759
                             Rate                                                                                                                   0.32 %                                                 0.31                                                                      0.29                                                                      0.29                                                                      0.31
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Savings deposits                                                                                                                            $    805,019                                                909,660                                                                   908,725                                                                   797,961                                                                   746,225
                             Rate                                                                                                                   0.04 %                                                 0.11                                                                      0.12                                                                      0.07                                                                      0.06
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Time deposits under $100,000                                                                                                                $  1,202,746                                              1,215,593                                                                 1,229,809                                                                 1,248,294                                                                 1,262,280
                             Rate                                                                                                                   0.67 %                                                 0.64                                                                      0.64                                                                      0.64                                                                      0.64
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Time deposits over $100,000                                                                                                                 $  2,040,924                                              2,029,713                                                                 2,014,564                                                                 2,030,242                                                                 2,016,116
                             Rate                                                                                                                   0.94 %                                                 0.92                                                                      0.90                                                                      0.88                                                                      0.89
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Non maturing brokered deposits                                                                                                              $    564,043                                                619,627                                                                   638,779                                                                   634,596                                                                   451,398
                             Rate                                                                                                                   0.54 %                                                 0.41                                                                      0.31                                                                      0.29                                                                      0.39
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Brokered time deposits                                                                                                                      $    815,515                                                761,159                                                                   742,153                                                                   775,143                                                                   885,603
                             Rate                                                                                                0.94 %           0.92             0.90             0.88             0.85  
                                                                                                                         -------------------- ---------- - -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Total interest bearing deposits                                                                                                             $ 17,692,862                                             17,744,708                                                                17,381,232                                                                16,987,383                                                                16,677,691
                             Rate                                                                                                                   0.41 %                                                 0.39                                                                      0.37                                                                      0.37                                                                      0.39
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Federal funds purchased and securities sold under
repurchase agreements                                                                                                                       $    183,400                                                176,854                                                                   219,429                                                                   247,378                                                                   221,276
                             Rate                                                                                                                   0.10 %                                                 0.09                                                                      0.08                                                                      0.09                                                                      0.09
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Long-term debt                                                                                                                              $  2,270,452                                              2,184,072                                                                 2,190,716                                                                 2,114,193                                                                 2,279,043
                             Rate                                                                                                                   2.83 %                                                 2.83                                                                      2.65                                                                      2.71                                                                      2.55
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total interest bearing liabilities                                                                                                          $ 20,146,714                                             20,105,634                                                                19,791,377                                                                19,348,954                                                                19,178,010
          Rate                                       0.68 %           0.65             0.62             0.63             0.65  
---------------------------- ---------------------------- -------------------- -------------------- -------------------- -------------------- ---------- - -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Non-interest bearing demand deposits                                                                                                        $  7,298,845                                              7,174,146                                                                 7,280,033                                                                 7,042,908                                                                 6,930,336
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Effective cost of funds                                                                                                                             0.48 %                                                 0.46                                                                      0.44                                                                      0.44                                                                      0.46
                                                                                                 
---------------------------- ---------------------------- -------------------- -------------------- -------------------- ------------------------------------------------------ -------------------- ---------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- --------------------------------
Net interest margin                                                     3.51 %           3.42             3.29             3.27             3.27  
------------------------------------------------------------------------------ -------------------- -------------------- -------------------- ---------- - -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                    
Taxable equivalent adjustment                                                                                                               $        298                                                    309                                                                       322                                                                       330                                                                       329
                                                                                                                                                                                                                                                                                                                                                                                                                                    
(1) Yields and rates are annualized.
(2) Excludes net unrealized gains and losses.
(3) Average loans are shown net of unearned income. Non-performing
loans are included.
(4) Reflects taxable-equivalent adjustments, using the statutory
federal income tax rate of 35%, in adjusting interest on
tax-exempt loans and investment securities to a taxable-equivalent
basis.
(5) Included as a component of Other Assets on the consolidated
balance sheet
 
 
 
 
 
Synovus
NON-PERFORMING LOANS COMPOSITION
(Unaudited)
(Dollars in thousands)
                                                                                                                                                            
                                                                                                               --------------------------------                                          --------------------------------                                                               --------------------                                                                -----------------------------------------------------                                          ------------------------------------------
                                                                                                                             Total                                                                     Total                                                                                                                                                                                        Total
                                                                                                                        Non-performing                                                            Non-performing                                                                                       2Q17 vs. 1Q17                                                                           Non-performing                                                                             2Q17 vs. 2Q16
                   Loan Type                                                                                                 Loans                                                                     Loans                                                                                           % change (1)                                                                                 Loans                                                                                   % change
                                                                                                      June 30, 2017                                                            March 31, 2017                                                                                                                                                             June 30, 2016                                                               
---------------------------------------------                                                                  --------------------------------                                          --------------------------------                                                               ------------------------------------------                                          -----------------------------------------------------                                          ------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Multi-Family                                                                                           $      1,621                                                                     1,556                                                                                                     16.8 %                                                                                 $      4,070                                                                                  nm
      Hotels                                                                                                          376                                                                       323                                                                                                     65.8                                                                                          5,052                                                                               (92.6 )%
      Office Buildings                                                                                                326                                                                       185                                                                                                    305.7                                                                                          2,563                                                                               (87.3 )
      Shopping Centers                                                                                                161                                                                         -                                                                                                       nm                                                                                            358                                                                                  nm
      Warehouses                                                                                                       41                                                                       226                                                                                                   (328.3 )                                                                                        1,128                                                                               (96.4 )
      Other Investment Property                                                                                     1,187                                                    750                                                                                 233.7                                                      580                                                            104.7  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                         
      Total Investment Properties                                                                                   3,712                                                                     3,040                                                                                                     88.7                                                                                         13,751                                                                               (73.0 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      1-4 Family Construction                                                                                           -                                                                       306                                                                                                   (401.1 )                                                                                          304                                                                              (100.0 )
      1-4 Family Investment Mortgage                                                                                8,535                                                  8,497                                                                                   1.8                                                    7,994                                                              6.8  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Total 1-4 Family Properties                                                                                   8,535                                                                     8,803                                                                                                    (12.2 )                                                                                        8,298                                                                                 2.9
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Commercial Development                                                                                          269                                                                       205                                                                                                    125.2                                                                                            398                                                                               (32.4 )
      Residential Development                                                                                       5,585                                                                     9,033                                                                                                   (153.1 )                                                                                        9,571                                                                               (41.6 )
      Land Acquisition                                                                                              5,077                                                  5,114                                                                                  (2.9 )                                                                     7,610                                                            (33.3 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Land and Development                                                                                         10,931                                                 14,352                                                                                 (95.6 )                                                                    17,579                                                            (37.8 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Total Commercial Real Estate                                                                                 23,178                                                                    26,195                                                                                                    (46.2 )                                                                                       39,628                                                                               (41.5 )
                                                                                                                                                                                                                                                                                                                                                                               
                                                                                                               --------------------------------                                          --------------------------------                                                               -------------------- --------------------                                           -----------------------------------------------------                                          -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Commercial, Financial, and Agricultural                                                                      69,550                                                                    60,381                                                                                                     60.9                                                                                         55,821                                                                                24.6
      Owner-Occupied                                                                                               24,918                                                 26,564                                                                                 (24.9 )                                                                    17,118                                                             45.6  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                         
      Total Commercial & Industrial                                                                                94,468                                                 86,945                                                                                  34.7                                                   72,939                                                             29.5  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Home Equity Lines                                                                                            20,648                                                                    22,918                                                                                                    (39.7 )                                                                                       16,912                                                                                22.1
      Consumer Mortgages                                                                                           18,035                                                                    19,874                                                                                                    (37.1 )                                                                                       21,895                                                                               (17.6 )
      Credit Cards                                                                                                      -                                                                         -                                                                                                       nm                                                                                              -                                                                                  nm
      Other Consumer Loans                                                                                          2,988                                                  2,434                                                                                  91.3                                                    2,698                                                             10.7  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
      Total Consumer                                                                                               41,671                                                 45,226                                                                                 (31.5 )                                                                    41,505                                                              0.4  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
         Total                                                                                               $    159,317                                                158,366                                                                                   2.4 %                                                                                 $    154,072                                                              3.4 %
                                                                                                               ========== ====================                                           ========== ====================                                                                ==================== ====================                                           ==================== ========== ====================                                           ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
(1) Percentage change is annualized.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands)
                                                                                                                          Total Loans                                                               Total Loans                                                                             2Q17 vs. 1Q17                                                                                        Total Loans                                                                              2Q17 vs. 2Q16
                   Loan Type                                                                                             June 30, 2017                                                            March 31, 2017                                                                            % change (1)                                                                                        June 30, 2016                                                                               % change
                                                                                                                                                                                                                                                                                                                                                                             
---------------------------------------------                                                                  --------------------------------                                          --------------------------------                                                               --------------------                                                                -----------------------------------------------------                                          ------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Multi-Family                                                                                           $  1,724,917                                                                 1,638,250                                                                                                     21.2 %                                                                                 $  1,528,191                                                                                12.9 %
      Hotels                                                                                                      835,110                                                                   794,685                                                                                                     20.4                                                                                        746,397                                                                                11.9
      Office Buildings                                                                                          1,567,984                                                                 1,581,460                                                                                                     (3.4 )                                                                                    1,559,631                                                                                 0.5
      Shopping Centers                                                                                            864,868                                                                   902,954                                                                                                    (16.9 )                                                                                      926,147                                                                                (6.6 )
      Warehouses                                                                                                  467,369                                                                   504,619                                                                                                    (29.6 )                                                                                      535,889                                                                               (12.8 )
      Other Investment Property                                                                                   575,415                                                594,084                                                                                 (12.6 )                                                                   554,715                                                              3.7  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Total Investment Properties                                                                               6,035,663                                                                 6,016,052                                                                                                      1.3                                                                                      5,850,970                                                                                 3.2
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      1-4 Family Construction                                                                                     198,419                                                                   203,151                                                                                                     (9.3 )                                                                                      208,871                                                                                (5.0 )
      1-4 Family Investment Mortgage                                                                              637,201                                                658,120                                                                                 (12.7 )                                                                   758,463                                                            (16.0 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Total 1-4 Family Properties                                                                                 835,620                                                                   861,271                                                                                                    (11.9 )                                                                                      967,334                                                                               (13.6 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Commercial Development                                                                                       59,299                                                                    58,537                                                                                                      5.2                                                                                         69,691                                                                               (14.9 )
      Residential Development                                                                                     118,032                                                                   130,653                                                                                                    (38.7 )                                                                                      160,446                                                                               (26.4 )
      Land Acquisition                                                                                            365,657                                                392,710                                                                                 (27.6 )                                                                   459,254                                                            (20.4 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Land and Development                                                                                        542,988                                                581,900                                                                                 (26.8 )                                                                   689,391                                                            (21.2 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Total Commercial Real Estate                                                                              7,414,271                                              7,459,223                                                                                  (2.4 )                                                                 7,507,695                                                             (1.2 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Commercial, Financial, and Agricultural                                                                   7,000,573                                                                 7,056,032                                                                                                     (3.2 )                                                                                    6,596,835                                                                                 6.1
      Owner-Occupied                                                                                            4,750,335                                              4,684,734                                                                                   5.6                                                4,358,595                                                              9.0  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Total Commercial & Industrial                                                                            11,750,908                                             11,740,766                                                                                   0.3                                               10,955,430                                                              7.3  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
      Home Equity Lines                                                                                         1,563,167                                                                 1,587,102                                                                                                     (6.0 )                                                                                    1,657,109                                                                                (5.7 )
      Consumer Mortgages                                                                                        2,470,665                                                                 2,350,730                                                                                                     20.5                                                                                      2,132,114                                                                                15.9
      Credit Cards                                                                                                225,900                                                                   224,349                                                                                                      2.8                                                                                        236,034                                                                                (4.3 )
      Other Consumer Loans                                                                                      1,031,639                                                922,018                                                                                  47.7                                                  600,153                                                             71.9  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Total Consumer                                                                                            5,291,371                                              5,084,199                                                                                  16.3                                                4,625,410                                                             14.4  
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
      Unearned Income                                                                                             (26,038 )                                                                 (25,720 )                                                                                                    5.0                                                  (27,627 )                                                                              (5.8 )
                                                                                                               ---------- --------------------                                           ---------- --------------------                                                                -------------------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
         Total                                                                                               $ 24,430,512                                             24,258,468                                                                                   2.8 %                                                                                 $ 23,060,908                                                              5.9 %
                                                                                                               ========== ====================                                           ========== ====================                                                                ==================== ====================                                           ==================== ========== ====================                                           ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
(1) Percentage change is annualized.
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                      
Synovus
CREDIT QUALITY DATA
(Unaudited)
(Dollars in thousands)                                                                                                          2017                                                                                                                      2016                                                                       2nd Quarter
                                                                                                                                  -------------------------------------------------------------------------------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------                                          ---------------------------
                                                                                                                                                         Second                                   First                                                         Fourth              Third      Second                                                   ’17 vs. ’16
                                                                                                                                                         Quarter                                                                       Quarter                                                        Quarter                               Quarter                        Quarter                                                    Change
                                                                                                                                  ----------------------------------------------------                                          --------------------                                           -------------------- --------------------                      ------- --------------------                      -------                                           ---------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Non-performing Loans                                                                                                                                 $   159,317                                                                             158,366                                                        153,378                                           148,155                                           154,072                                             3.4 %
Impaired Loans Held for Sale (1)                                                                                                                             127                                                                               8,442                                                              -                                             2,473                                                 -                                              nm
Other Real Estate                                                                                                                      19,476                                                           20,425                                                         22,308                                            28,438                                            33,289                                           (41.5 )
                                                                                                                                  -------------------- --------- --------------------                                           --------------------                                           --------------------                                           -------                                           -------                                           ----- --------------------
Non-performing Assets                                                                                                                                    178,920                                                                             187,233                                                        175,686                                           179,066                                           187,361                                            (4.5 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Allowance for loan losses                                                                                                                                248,095                                                                             253,514                                                        251,758                                           253,817                                           255,076                                            (2.7 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Net Charge-Offs - Quarter                                                                                                                                 15,678                                                                               6,919                                                          8,319                                             6,930                                             6,133                                           155.6
Net Charge-Offs - YTD                                                                                                                                     22,597                                                                               6,919                                                         28,739                                            20,420                                            13,490                                            67.5
Net Charge-Offs / Average Loans - Quarter (2)                                                                                                               0.26 %                                                                              0.12                                                           0.14                                              0.12                                              0.11
Net Charge-Offs / Average Loans - YTD (2)                                                                                                                   0.19                                                                                0.12                                                           0.12                                              0.12                                              0.12
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Non-performing Loans / Loans                                                                                                                                0.65                                                                                0.65                                                           0.64                                              0.64                                              0.67
Non-performing Assets / Loans, Other Loans Held for Sale & ORE                                                                                              0.73                                                                                0.77                                                           0.74                                              0.77                                              0.81
Allowance / Loans                                                                                                                                           1.02                                                                                1.05                                                           1.06                                              1.09                                              1.11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Allowance / Non-performing Loans                                                                                                                          155.72                                                                              160.08                                                         164.14                                            171.32                                            165.56
Allowance / Non-performing Loans (3)                                                                                                                      217.07                                                                              204.94                                                         202.01                                            198.94                                            195.25
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Past Due Loans over 90 days and Still Accruing                                                                                                       $     4,550                                                                               2,777                                                          3,135                                             5,358                                             5,964                                           (23.7 )
As a Percentage of Loans Outstanding                                                                                                                        0.02 %                                                                              0.01                                                           0.01                                              0.02                                              0.03
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Total Past Due Loans and Still Accruing                                                                                                              $    66,788                                                                              62,137                                                         65,106                                            61,781                                            55,716                                            19.9
As a Percentage of Loans Outstanding                                                                                                                        0.27 %                                                                              0.26                                                           0.27                                              0.27                                              0.24
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Accruing Troubled Debt Restructurings (TDRs)                                                                                                         $   167,395                                                                             172,421                                                        195,776                                           201,896                                           205,165                                           (18.4 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
(1) Represent only impaired loans that have been specifically
identified to be sold. Impaired loans held for sale are carried at
the lower of cost or fair value, less costs to sell, based
primarily on estimated sales proceeds net of selling costs.
(2) Ratio is annualized.
(3) Excludes non-performing loans for which the expected loss has
been charged off.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
SELECTED CAPITAL INFORMATION (1)
(Unaudited)
(Dollars in thousands)                                                                                                                                                                                                                                    
                                                                                                                                  ----------------------------------------------------                                          --------------------                                           --------------------
                                                                                                                                                      June 30, 2017                                                                 December 31,                                                   June 30, 2016
                                                                                                                                                                                                                                        2016
                                                                                                                                  -------------------------------------------------                                             --------------------                                           --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
Tier 1 Capital                                                                                                                                       $ 2,827,892                                                                           2,685,880                                                      2,627,574
Total Risk-Based Capital                                                                                                                               3,338,707                                                                           3,201,268                                                      3,146,898
Common Equity Tier 1 Ratio (transitional)                                                                                                                  10.02 %                                                                              9.96                                                          10.01
Common Equity Tier 1 Ratio (fully phased-in)                                                                                                                9.81                                                                                9.51                                                           9.49
Tier 1 Capital Ratio                                                                                                                                       10.36                                                                               10.07                                                          10.06
Total Risk-Based Capital Ratio                                                                                                                             12.24                                                                               12.01                                                          12.05
Tier 1 Leverage Ratio                                                                                                                                       9.29                                                                                8.99                                                           9.10
Common Equity as a Percentage of Total Assets (2)                                                                                                           9.36                                                                                9.31                                                           9.59
Tangible Common Equity as a Percentage of Tangible Assets (3)                                                                                               9.15                                                                                9.09                                                           9.52
Tangible Common Equity as a Percentage of Risk Weighted Assets (3)                                                                                         10.27                                                                               10.24                                                          10.72
Book Value Per Common Share (4)                                                                                                                      $     23.61                                                                               22.92                                                          22.78
Tangible Book Value Per Common Share (3)                                                                                                                   23.04                                                                               22.32                                                          22.58
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
(1) Current quarter regulatory capital information is preliminary.
(2) Common equity consists of Total Shareholders’ Equity less
Preferred Stock.
(3) Excludes the carrying value of goodwill and other intangible
assets from common equity and total assets
(4) Book Value Per Common Share consists of Total Shareholders’
Equity less Preferred Stock divided by total common shares
outstanding. impact of unexercised tangible equity units (tMEDs).
 
 
 
 

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170718005663r1&sid=cmtx6&distro=nx&

View source version on businesswire.com: http://www.businesswire.com/news/home/20170718005663/en/

SOURCE: Synovus Financial Corp.

Synovus Financial Corp. 
Investor Contact: 
Bob May, 706-649-3555 
or 
Media Contact: 
Lee Underwood, 706-644-0528


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